Compania Minera del Pacifico set to meet banks Friday for loan

Compania Minera del Pacifico set to meet banks Friday for loan

Loans

Compania Minera del Pacifico (CMP) will meet banks on Friday for a $300m 5-year revolving credit facility, LatinFinance understands. The subsidiary of Chilean steel company CAP will pay 125bp over Libor if its leverage is less than or equal to 1.5x, with an undrawn fee of 37.5bp. If leverage is greater than 1.5x and less than or equal to 2.25x, pricing is 150bp with an undrawn fee of 45bp, if leverage is greater than 2.25x and less than or equal to 3x, the spread is 175bp over Libor, with an und

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